UPSC CSE Prelims
Question 23
All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the
View correct answer and explanation
Correct answer: C
Correct Option: C
Explanation: Article 266(1) credits Union tax and non-tax revenues and most government borrowing receipts to the Consolidated Fund of India.
Option-wise Analysis:
A: Incorrect - The Contingency Fund is an imprest for urgent unforeseen spending.
B: Incorrect - The Public Account holds monies such as provident funds and small savings for which government acts as banker.
C: Correct - routine government revenues are paid into the Consolidated Fund.
D: Incorrect - “Deposits and Advances Fund” is not the constitutional receptacle for Union tax revenues.